13,300 Shares in Owens Corning Inc $OC Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Owens Corning Inc (NYSE:OC) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 13,300 shares of the construction company’s stock, valued at approximately $2,114,000.

Other hedge funds have also recently bought and sold shares of the company. HM Payson & Co. grew its stake in shares of Owens Corning by 203.6% in the 2nd quarter. HM Payson & Co. now owns 167 shares of the construction company’s stock worth $27,000 after acquiring an additional 112 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Owens Corning during the fourth quarter valued at about $29,000. Cassaday & Co Wealth Management LLC purchased a new position in Owens Corning during the first quarter worth about $30,000. Fiduciary Financial Advisors bought a new stake in Owens Corning in the 2nd quarter worth about $35,000. Finally, Harbour Investments Inc. grew its position in Owens Corning by 66.5% in the 4th quarter. Harbour Investments Inc. now owns 323 shares of the construction company’s stock worth $36,000 after purchasing an additional 129 shares in the last quarter. 88.40% of the stock is owned by hedge funds and other institutional investors.

Owens Corning Stock Down 1.0%

OC opened at $127.41 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.16 and a debt-to-equity ratio of 1.10. The stock has a market cap of $10.07 billion, a price-to-earnings ratio of -15.81, a PEG ratio of 1.93 and a beta of 1.32. Owens Corning Inc has a twelve month low of $97.53 and a twelve month high of $159.91. The company’s 50-day moving average price is $143.84 and its two-hundred day moving average price is $127.73.

Owens Corning (NYSE:OC) last released its earnings results on Wednesday, August 5th. The construction company reported $3.93 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.84. The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.66 billion. Owens Corning had a negative net margin of 6.81% and a positive return on equity of 20.52%. The company’s revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.21 EPS. As a group, equities analysts expect that Owens Corning Inc will post 9.94 earnings per share for the current year.

Owens Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 6th. Shareholders of record on Monday, July 20th were issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Monday, July 20th. Owens Corning’s dividend payout ratio is -39.21%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Citigroup lifted their target price on shares of Owens Corning from $149.00 to $177.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Evercore reaffirmed an “outperform” rating and issued a $193.00 target price on shares of Owens Corning in a report on Thursday, July 23rd. Royal Bank Of Canada increased their price target on Owens Corning from $148.00 to $172.00 and gave the company an “outperform” rating in a research report on Friday, July 10th. Wells Fargo & Company boosted their price objective on Owens Corning from $150.00 to $165.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Finally, DA Davidson assumed coverage on Owens Corning in a research note on Monday, August 24th. They issued a “buy” rating and a $190.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $165.31.

Insider Transactions at Owens Corning

In other Owens Corning news, insider Rachel Barthelemy Marcon sold 900 shares of the business’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $144.07, for a total value of $129,663.00. Following the sale, the insider directly owned 21,449 shares in the company, valued at $3,090,157.43. The trade was a 4.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.92% of the stock is owned by corporate insiders.

About Owens Corning

Owens Corning (NYSE:OC) is a global building materials company that develops and manufactures products used in residential, commercial and industrial construction. Its portfolio includes insulation, roofing materials and glass-fiber composites designed to improve energy efficiency, durability and structural performance.

The company’s insulation products include fiberglass, mineral wool and foam insulation, as well as related air-sealing and weatherization products. Its roofing business provides asphalt shingles, roofing components and other solutions for residential and commercial applications.